Liquavista receives €2.5 million innovation loan from the Dutch Government

SenterNovem’s support will accelerate the development of Liquavista’s range of eReader display technologies

23 September 2009 – Eindhoven – Liquavista has received a €2.5 million innovation loan (“Innovatiekrediet”) from SenterNovem, the innovation agency of the Dutch Government, to accelerate the development of its highly innovative electrowetting based display technology for the eReader market.

“We are really excited to be working with SenterNovem in developing our revolutionary displays” stated Guy Demuynck, Liquavista’s recently appointed CEO. “SenterNovem clearly saw the consumer benefits that our displays offer the market, from outdoor viewability to increased battery life – plus the strong commercial impact we will have on the consumer electronics market”

“We believe in supporting technologies that offer real competitive advantages to the market” stated Bas Kruiderink, project advisor at SenterNovem. “The loan has been approved as a result of the tremendous progress Liquavista has made to date in demonstrating its latest technology platforms. We are really looking forward to being actively involved in their progress and their plans for development of their display range over the next few years. Liquavista is a great example of an exciting innovative technology started in the Netherlands and as such a role model to other start-ups.”

“Working with SenterNovem is not just about gaining the support of funding for our Research & Development work” stated Mr Demyunck, “It is about building a joint partnership with SenterNovem in bringing our new innovative technologies to the market.

The innovation loan will support current and future development of advanced features in Liquavista’s display roadmaps, thereby accelerating the development of prototypes of their bright and colourful displays. The first products to use Liquavista screens will be the next generation of electronic readers. Liquavista’s technology enables new types of paper-like displays that will provide vastly improved usability, content compatibility and cost compared to first generation electronic paper technologies.

Liquavista recently closed a successful funding round and appointed Guy Demuynck as the new CEO of the company.

About Liquavista – www.liquavista.com
Liquavista offers a new type of electronic screen technology that will change the way we interact with mobile phones, media players, electronic readers and other mobile devices. Liquavista’s displays create bright and colourful images that ensure excellent indoor and outdoor viewability and use dramatically less battery power. Users can engage with their favourite applications for longer before a recharge is necessary and battery sizes can be reduced allowing devices to be thinner and lighter.

The company’s ultimate vision is to build on the extraordinary optical performance and unique power efficiency of its technology to lead a green revolution in low power displays for notebook PCs, desktop monitors and televisions.

Liquavista was founded in 2006 as a spin-out from the world famous Philips Research Labs in Eindhoven. The company is backed by Amadeus Capital, GIMV and Prime Technology Ventures. It is headquartered in Eindhoven, the Netherlands. For more information please visit www.liquavista.com.

About SenterNovem

SenterNovem contributes to sustainable development and innovation by fostering domestic and international collaborations across the public and the private sector. We implement government policies in the areas of innovation, energy, climate, and the (living) environment. Businesses, not-for-profit-organisations as well as governments engage our services to achieve objectives in these fields. SenterNovem is an agency within the Ministry of Economic Affairs of the Netherlands.

The Innovatiekrediet is a loan for the funding of new development projects that have high commercial potential but still involve significant technological risk. The projects are aimed at the development of new products, processes or services. The loan reduces financial risk for the recipient in that there is no need to repay the loan in the event that the project fails. The assessment criteria include the quality and feasibility of the plans, and the quality, management and financial position of the business. For more information, please visit www.senternovem.nl/innovatiekrediet.